Amalgamated Bank Purchases 16,960 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Amalgamated Bank increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 43.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 56,282 shares of the transportation company’s stock after buying an additional 16,960 shares during the quarter. Amalgamated Bank’s holdings in Alaska Air Group were worth $2,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ALK. FMR LLC boosted its holdings in shares of Alaska Air Group by 328.7% during the 4th quarter. FMR LLC now owns 4,649,388 shares of the transportation company’s stock worth $301,048,000 after buying an additional 3,564,749 shares during the period. Point72 Asset Management L.P. raised its stake in Alaska Air Group by 134.0% during the 4th quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company’s stock valued at $138,191,000 after purchasing an additional 1,222,277 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Alaska Air Group by 4,615.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company’s stock valued at $61,063,000 after purchasing an additional 923,064 shares during the last quarter. Candlestick Capital Management LP acquired a new position in Alaska Air Group during the 4th quarter valued at $51,306,000. Finally, Interval Partners LP acquired a new position in Alaska Air Group during the 4th quarter valued at $50,507,000. 81.90% of the stock is owned by institutional investors.

Insider Transactions at Alaska Air Group

In other Alaska Air Group news, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the sale, the vice president owned 8,253 shares of the company’s stock, valued at $423,709.02. This represents a 26.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the sale, the executive vice president directly owned 26,530 shares in the company, valued at approximately $1,419,620.30. This represents a 22.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,479 shares of company stock valued at $554,228 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Trading Up 0.3%

Shares of Alaska Air Group stock opened at $51.01 on Friday. The stock has a market capitalization of $6.26 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. The company has a 50-day simple moving average of $49.95 and a 200 day simple moving average of $57.36. Alaska Air Group, Inc. has a 12-month low of $32.62 and a 12-month high of $78.08.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.05). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.19 billion. Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The company’s revenue for the quarter was up 40.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.92) EPS. Research analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ALK. UBS Group cut shares of Alaska Air Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $75.00 to $54.00 in a research note on Monday, April 7th. Citigroup cut their target price on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Susquehanna cut their target price on shares of Alaska Air Group from $95.00 to $55.00 and set a “positive” rating for the company in a research note on Monday, April 7th. TD Cowen upped their target price on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Finally, Barclays dropped their price objective on shares of Alaska Air Group from $62.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.83.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.